Union Investment has acquired the Elements campus property in Mannheim, comprising some 20,000 m² of rental space. The property consists of seven building sections which were completed in two stages in 1994 and 2002.
A total of 19 tenants from a variety of sectors contribute to the campus atmosphere of the site. The two largest tenants are a medical college with approximately 4,300 m² and health insurer Techniker Krankenkasse with over 2,000 m².The occupancy rate at the time of acquisition was 98%. The acquisition is being made on behalf of the Urban Campus Nr. 1 special fund established jointly by Union Investment and Investa Capital Management (ICM). Elements in Mannheim is the fourth property in the fund, following acquisitions in Fürth, Nuremberg and Konstanz.
The property currently comprises primarily office space and benefits from 380 car parking units. The uniform brick façade of the building sections, together with the green open spaces and park-like grounds, underline the property’s campus character. As with all properties in Urban Campus Nr. 1, Investa Real Estate will handle on-site property and tenant management as the campus manager. Active asset management may lead to greater diversification of use in the medium term.
